10-K
Annual Report
Aflac Incorporated
AFL
NYSE
CIK: 4977
File #: 001-07434
Balance Sheet
326 line items · 2 periods
XBRL
| Item | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|
Assets: | ||
Investments and cash: | ||
Available for sale, fixed maturity securities | 73,290,000,000 | 75,741,000,000 |
Consolidated Entity Excluding Variable Interest Entities (VIE) | 69,578,000,000 | 71,936,000,000 |
Variable Interest Entity | 3,712,000,000 | 3,805,000,000 |
Yen-denominated - Japanese bonds | 22,411,000,000 | 24,953,000,000 |
Yen-denominated - Municipalities | 1,025,000,000 | 1,097,000,000 |
Yen-denominated - Mortgage- and asset-backed securities | 210,000,000 | 237,000,000 |
Yen-denominated - Public utilities | 4,000,000,000 | 4,125,000,000 |
Yen-denominated - Sovereign and supranational | 390,000,000 | 678,000,000 |
Yen-denominated - Banks/financial institutions | 5,851,000,000 | 6,141,000,000 |
Yen-denominated - Other corporate | 6,303,000,000 | 6,435,000,000 |
Yen-denominated | 40,190,000,000 | 43,666,000,000 |
Dollar-denominated - U.S. government and agencies | 189,000,000 | 161,000,000 |
Dollar-denominated - Municipalities | 1,273,000,000 | 1,223,000,000 |
Dollar-denominated - Mortgage- and asset-backed securities | 2,876,000,000 | 1,909,000,000 |
Dollar-denominated - Public utilities | 3,592,000,000 | 3,541,000,000 |
Dollar-denominated - Sovereign and supranational | 147,000,000 | 156,000,000 |
Dollar-denominated - Banks/financial institutions | 2,984,000,000 | 3,158,000,000 |
Dollar-denominated - Other corporate | 22,039,000,000 | 21,927,000,000 |
Dollar-denominated | 33,100,000,000 | 32,075,000,000 |
Variable Interest Entity, Not Consolidated | 6,424,000,000 | 4,259,000,000 |
Public utilities | 7,592,000,000 | 7,666,000,000 |
Banks/financial institutions | 8,835,000,000 | 9,299,000,000 |
Other corporate | 28,342,000,000 | 28,362,000,000 |
Level 1 - Government and agencies | 21,700,000,000 | 24,158,000,000 |
Level 2 - Government and agencies | 900,000,000 | 956,000,000 |
Level 3 - Government and agencies | 0 | 0 |
Government and agencies | 22,600,000,000 | 25,114,000,000 |
Level 1 - Municipalities | 0 | 0 |
Level 2 - Municipalities | 2,298,000,000 | 2,320,000,000 |
Level 3 - Municipalities | 0 | 0 |
Municipalities | 2,298,000,000 | 2,320,000,000 |
Level 1 - Mortgage- and asset-backed securities | 0 | 0 |
Level 2 - Mortgage- and asset-backed securities | 2,314,000,000 | 1,803,000,000 |
Level 3 - Mortgage- and asset-backed securities | 772,000,000 | 343,000,000 |
Mortgage- and asset-backed securities | 3,086,000,000 | 2,146,000,000 |
Level 1 - Public utilities | 0 | 0 |
Level 2 - Public utilities | 7,339,000,000 | 7,169,000,000 |
Level 3 - Public utilities | 253,000,000 | 497,000,000 |
Level 1 - Sovereign and supranational | 0 | 0 |
Level 2 - Sovereign and supranational | 507,000,000 | 797,000,000 |
Level 3 - Sovereign and supranational | 30,000,000 | 37,000,000 |
Sovereign and supranational | 537,000,000 | 834,000,000 |
Level 1 - Banks/financial institutions | 0 | 0 |
Level 2 - Banks/financial institutions | 8,757,000,000 | 9,140,000,000 |
Level 3 - Banks/financial institutions | 78,000,000 | 159,000,000 |
Level 1 - Other corporate | 0 | 0 |
Level 2 - Other corporate | 27,694,000,000 | 27,620,000,000 |
Level 3 - Other corporate | 648,000,000 | 742,000,000 |
Level 1 | 21,700,000,000 | 24,158,000,000 |
Level 2 | 49,809,000,000 | 49,805,000,000 |
Level 3 | 1,781,000,000 | 1,778,000,000 |
Level 1 - Government and agencies - Third party pricing vendor valuation technique | 21,692,000,000 | 24,158,000,000 |
Level 2 - Government and agencies - Third party pricing vendor valuation technique | 808,000,000 | 582,000,000 |
Level 3 - Government and agencies - Third party pricing vendor valuation technique | 0 | 0 |
Government and agencies - Third party pricing vendor valuation technique | 22,500,000,000 | 24,740,000,000 |
Level 1 - Government and agencies - Internal valuation technique | 0 | 0 |
Level 2 - Government and agencies - Internal valuation technique | 60,000,000 | 374,000,000 |
Level 3 - Government and agencies - Internal valuation technique | 0 | 0 |
Government and agencies - Internal valuation technique | 60,000,000 | 374,000,000 |
Level 1 - Government and agencies - Broker/other | 8,000,000 | — |
Level 2 - Government and agencies - Broker/other | 32,000,000 | — |
Level 3 - Government and agencies - Broker/other | 0 | — |
Government and agencies - Broker/other | 40,000,000 | — |
Level 1 - Municipalities - Third party pricing vendor valuation technique | 0 | 0 |
Level 2 - Municipalities - Third party pricing vendor valuation technique | 1,426,000,000 | 2,021,000,000 |
Level 3 - Municipalities - Third party pricing vendor valuation technique | 0 | 0 |
Municipalities - Third party pricing vendor valuation technique | 1,426,000,000 | 2,021,000,000 |
Level 1 - Municipalities - Internal valuation technique | 0 | 0 |
Level 2 - Municipalities - Internal valuation technique | 256,000,000 | 299,000,000 |
Level 3 - Municipalities - Internal valuation technique | 0 | 0 |
Municipalities - Internal valuation technique | 256,000,000 | 299,000,000 |
Level 1 - Municipalities - Broker/other | 0 | — |
Level 2 - Municipalities - Broker/other | 616,000,000 | — |
Level 3 - Municipalities - Broker/other | 0 | — |
Municipalities - Broker/other | 616,000,000 | — |
Level 1 - Mortgage- and asset-backed securities - Third party pricing vendor valuation technique | 0 | 0 |
Level 2 - Mortgage- and asset-backed securities - Third party pricing vendor valuation technique | 2,277,000,000 | 1,798,000,000 |
Level 3 - Mortgage- and asset-backed securities - Third party pricing vendor valuation technique | 0 | 0 |
Mortgage- and asset-backed securities - Third party pricing vendor valuation technique | 2,277,000,000 | 1,798,000,000 |
Level 1 - Mortgage- and asset-backed securities - Internal valuation technique | 0 | 0 |
Level 2 - Mortgage- and asset-backed securities - Internal valuation technique | 27,000,000 | 3,000,000 |
Level 3 - Mortgage- and asset-backed securities - Internal valuation technique | 105,000,000 | 0 |
Mortgage- and asset-backed securities - Internal valuation technique | 132,000,000 | 3,000,000 |
Level 1 - Mortgage- and asset-backed securities - Broker/other | 0 | 0 |
Level 2 - Mortgage- and asset-backed securities - Broker/other | 10,000,000 | 2,000,000 |
Level 3 - Mortgage- and asset-backed securities - Broker/other | 667,000,000 | 343,000,000 |
Mortgage- and asset-backed securities - Broker/other | 677,000,000 | 345,000,000 |
Level 1 - Public utilities - Third party pricing vendor valuation technique | 0 | 0 |
Level 2 - Public utilities - Third party pricing vendor valuation technique | 4,570,000,000 | 3,786,000,000 |
Level 3 - Public utilities - Third party pricing vendor valuation technique | 0 | 0 |
Public utilities - Third party pricing vendor valuation technique | 4,570,000,000 | 3,786,000,000 |
Level 1 - Public utilities - Internal valuation technique | 0 | 0 |
Level 2 - Public utilities - Internal valuation technique | 2,677,000,000 | 3,383,000,000 |
Level 3 - Public utilities - Internal valuation technique | 0 | 0 |
Public utilities - Internal valuation technique | 2,677,000,000 | 3,383,000,000 |
Level 1 - Public utilities - Broker/other | 0 | 0 |
Level 2 - Public utilities - Broker/other | 92,000,000 | 0 |
Level 3 - Public utilities - Broker/other | 253,000,000 | 497,000,000 |
Public utilities - Broker/other | 345,000,000 | 497,000,000 |
Level 1 - Sovereign and supranational - Third party pricing vendor valuation technique | 0 | 0 |
Level 2 - Sovereign and supranational - Third party pricing vendor valuation technique | 118,000,000 | 232,000,000 |
Level 3 - Sovereign and supranational - Third party pricing vendor valuation technique | 0 | 0 |
Sovereign and supranational - Third party pricing vendor valuation technique | 118,000,000 | 232,000,000 |
Level 1 - Sovereign and supranational - Internal valuation technique | 0 | 0 |
Level 2 - Sovereign and supranational - Internal valuation technique | 330,000,000 | 565,000,000 |
Level 3 - Sovereign and supranational - Internal valuation technique | 0 | 0 |
Sovereign and supranational - Internal valuation technique | 330,000,000 | 565,000,000 |
Level 1 - Sovereign and supranational - Broker/other | 0 | 0 |
Level 2 - Sovereign and supranational - Broker/other | 59,000,000 | 0 |
Level 3 - Sovereign and supranational - Broker/other | 30,000,000 | 37,000,000 |
Sovereign and supranational - Broker/other | 89,000,000 | 37,000,000 |
Level 1 - Banks/financial institutions - Third party pricing vendor valuation technique | 0 | 0 |
Level 2 - Banks/financial institutions - Third party pricing vendor valuation technique | 5,085,000,000 | 4,622,000,000 |
Level 3 - Banks/financial institutions - Third party pricing vendor valuation technique | 0 | 0 |
Banks/financial institutions - Third party pricing vendor valuation technique | 5,085,000,000 | 4,622,000,000 |
Level 1 - Banks/financial institutions - Internal valuation technique | 0 | 0 |
Level 2 - Banks/financial institutions - Internal valuation technique | 3,008,000,000 | 4,518,000,000 |
Level 3 - Banks/financial institutions - Internal valuation technique | 69,000,000 | 105,000,000 |
Banks/financial institutions - Internal valuation technique | 3,077,000,000 | 4,623,000,000 |
Level 1 - Banks/financial institutions - Broker/other | 0 | 0 |
Level 2 - Banks/financial institutions - Broker/other | 664,000,000 | 0 |
Level 3 - Banks/financial institutions - Broker/other | 9,000,000 | 54,000,000 |
Banks/financial institutions - Broker/other | 673,000,000 | 54,000,000 |
Level 1 - Other corporate - Third party pricing vendor valuation technique | 0 | 0 |
Level 2 - Other corporate - Third party pricing vendor valuation technique | 18,088,000,000 | 22,268,000,000 |
Level 3 - Other corporate - Third party pricing vendor valuation technique | 4,000,000 | 0 |
Other corporate - Third party pricing vendor valuation technique | 18,092,000,000 | 22,268,000,000 |
Level 1 - Other corporate - Internal valuation technique | 0 | 0 |
Level 2 - Other corporate - Internal valuation technique | 4,210,000,000 | 5,352,000,000 |
Level 3 - Other corporate - Internal valuation technique | 230,000,000 | 200,000,000 |
Other corporate - Internal valuation technique | 4,440,000,000 | 5,552,000,000 |
Level 1 - Other corporate - Broker/other | 0 | 0 |
Level 2 - Other corporate - Broker/other | 5,396,000,000 | 0 |
Level 3 - Other corporate - Broker/other | 414,000,000 | 542,000,000 |
Other corporate - Broker/other | 5,810,000,000 | 542,000,000 |
Level 3 - Mortgage- and asset-backed securities - Offered Quote - Consensus pricing valuation technique | 772,000,000 | 343,000,000 |
Level 3 - Public utilities - Offered Quote - Consensus pricing valuation technique | 253,000,000 | — |
Level 3 - Sovereign and supranational - Offered Quote - Consensus pricing valuation technique | 30,000,000 | 37,000,000 |
Level 3 - Banks/financial institutions - Credit Spread - Discounted cash flow technique | 78,000,000 | 159,000,000 |
Level 3 - Other corporate - Credit Spread - Discounted cash flow technique | 648,000,000 | 742,000,000 |
Parent Company | 1,582,000,000 | 1,744,000,000 |
Level 3 - Public utilities - Credit Spread - Discounted cash flow technique | — | 497,000,000 |
Held to maturity fixed maturity securities, net carrying amount | 17,819,000,000 | 19,056,000,000 |
Yen-denominated - Japanese bonds | 17,083,000,000 | 18,267,000,000 |
Yen-denominated - Municipalities | 266,000,000 | 287,000,000 |
Yen-denominated - Public utilities | 34,000,000 | 37,000,000 |
Yen-denominated - Sovereign and supranational | 418,000,000 | 446,000,000 |
Yen-denominated - Other corporate | 18,000,000 | 19,000,000 |
Yen-denominated | 17,819,000,000 | 19,056,000,000 |
Equity securities | 1,088,000,000 | 1,091,000,000 |
Yen-denominated | 751,000,000 | 670,000,000 |
Dollar-denominated | 252,000,000 | 374,000,000 |
Other currencies | 85,000,000 | 47,000,000 |
Level 1 | 840,000,000 | 822,000,000 |
Level 2 | 0 | 60,000,000 |
Level 3 | 248,000,000 | 209,000,000 |
Level 1 - Third party pricing vendor valuation technique | 800,000,000 | 822,000,000 |
Level 2 - Third party pricing vendor valuation technique | 0 | 60,000,000 |
Level 3 - Third party pricing vendor valuation technique | 0 | 0 |
Third party pricing vendor valuation technique | 800,000,000 | 882,000,000 |
Level 1 - Internal valuation technique | 0 | — |
Level 2 - Internal valuation technique | 0 | — |
Level 3 - Internal valuation technique | 216,000,000 | — |
Internal valuation technique | 216,000,000 | — |
Level 1 - Broker/other | 40,000,000 | 0 |
Level 2 - Broker/other | 0 | 0 |
Level 3 - Broker/other | 32,000,000 | 209,000,000 |
Broker/other | 72,000,000 | 209,000,000 |
Level 3 - Private Financials - Adjustd cost | 248,000,000 | 209,000,000 |
Commercial mortgage and other loans | 12,527,000,000 | 13,496,000,000 |
Variable Interest Entity | 10,150,000,000 | 10,832,000,000 |
Other investments | 4,530,000,000 | 4,070,000,000 |
Variable Interest Entity | 2,381,000,000 | 1,909,000,000 |
Policy loans | 214,000,000 | 214,000,000 |
Short-term investments | 1,304,000,000 | 1,532,000,000 |
Limited partnerships | 2,750,000,000 | 2,290,000,000 |
Real estate owned | 227,000,000 | 0 |
Other investments | 35,000,000 | 34,000,000 |
Variable Interest Entity, Not Consolidated | 369,000,000 | 381,000,000 |
Equity method investments | 2,750,000,000 | 2,290,000,000 |
Parent Company | 1,126,000,000 | 1,461,000,000 |
Cash and cash equivalents | 4,306,000,000 | 3,943,000,000 |
Parent Company | 1,007,000,000 | 1,143,000,000 |
Total investments and cash | 113,560,000,000 | 117,397,000,000 |
Parent Company | 28,223,000,000 | 27,320,000,000 |
Receivables | 848,000,000 | 647,000,000 |
Aflac Japan | 175,000,000 | 174,000,000 |
Accrued investment income | 731,000,000 | 745,000,000 |
Deferred policy acquisition costs | 9,132,000,000 | 9,239,000,000 |
Aflac Japan | 5,559,000,000 | 5,776,000,000 |
Aflac U.S. | 3,573,000,000 | 3,463,000,000 |
Corporate and other | 0 | 0 |
Cancer - Aflac Japan | 2,971,000,000 | 3,035,000,000 |
Medical and other health - Aflac Japan | 2,041,000,000 | 2,161,000,000 |
Life insurance - Aflac Japan | 491,000,000 | 525,000,000 |
Other - Aflac Japan | 56,000,000 | 55,000,000 |
Accident - Aflac U.S. | 917,000,000 | 904,000,000 |
Disability - Aflac U.S. | 625,000,000 | 613,000,000 |
Critical care - Aflac U.S. | 1,336,000,000 | 1,304,000,000 |
Hospital indemnity - Aflac U.S. | 436,000,000 | 418,000,000 |
Dental/vision - Aflac U.S. | 86,000,000 | 88,000,000 |
Life insurance - Aflac U.S. | 172,000,000 | 135,000,000 |
Other - Aflac U.S. | 1,000,000 | 1,000,000 |
Intercompany eliminations | 0 | 0 |
Property and equipment, at cost less accumulated depreciation | 445,000,000 | 530,000,000 |
Other | 2,008,000,000 | 3,180,000,000 |
Parent Company | 1,202,000,000 | 964,000,000 |
Total assets | 126,724,000,000 | 131,738,000,000 |
Aflac Japan | 101,541,000,000 | 105,734,000,000 |
Aflac U.S. | 21,861,000,000 | 21,002,000,000 |
Corporate and other | 3,322,000,000 | 5,002,000,000 |
Parent Company | 29,946,000,000 | 28,551,000,000 |
Liabilities and shareholders' equity: | ||
Liabilities: | ||
Policy liabilities: | ||
Future policy benefits | 83,718,000,000 | 88,241,000,000 |
Cancer - Aflac Japan | 32,652,000,000 | 35,468,000,000 |
Medical and other health - Aflac Japan | 10,560,000,000 | 10,705,000,000 |
Life insurance - Aflac Japan | 23,243,000,000 | 24,469,000,000 |
Other - Aflac Japan | 4,090,000,000 | 4,326,000,000 |
Accident - Aflac U.S. | 621,000,000 | 564,000,000 |
Disability - Aflac U.S. | 770,000,000 | 810,000,000 |
Critical care - Aflac U.S. | 7,216,000,000 | 7,003,000,000 |
Hospital indemnity - Aflac U.S. | 836,000,000 | 854,000,000 |
Dental/vision - Aflac U.S. | 272,000,000 | 277,000,000 |
Life insurance - Aflac U.S. | 911,000,000 | 802,000,000 |
Other - Aflac U.S. | 521,000,000 | 512,000,000 |
Operating Segments - Cancer - Aflac Japan | 32,652,000,000 | 35,468,000,000 |
Operating Segments - Medical and other health - Aflac Japan | 10,560,000,000 | 10,705,000,000 |
Operating Segments - Life insurance - Aflac Japan | 23,243,000,000 | 24,469,000,000 |
Operating Segments - Other - Aflac Japan | 4,090,000,000 | 4,326,000,000 |
Operating Segments - Accident - Aflac U.S. | 621,000,000 | 564,000,000 |
Operating Segments - Disability - Aflac U.S. | 770,000,000 | 810,000,000 |
Operating Segments - Critical care - Aflac U.S. | 7,216,000,000 | 7,003,000,000 |
Operating Segments - Hospital indemnity - Aflac U.S. | 836,000,000 | 854,000,000 |
Operating Segments - Dental/vision - Aflac U.S. | 272,000,000 | 277,000,000 |
Operating Segments - Life insurance - Aflac U.S. | 911,000,000 | 802,000,000 |
Operating Segments - Other - Aflac U.S. | 521,000,000 | 512,000,000 |
Operating Segments - Corporate and other | 4,225,000,000 | 686,000,000 |
Intercompany eliminations | (5,017,000,000) | (667,000,000) |
Unpaid policy claims | 261,000,000 | 201,000,000 |
Unearned premiums | 1,451,000,000 | 1,825,000,000 |
Aflac Japan | 1,358,000,000 | 1,716,000,000 |
Aflac U.S. | 107,000,000 | 113,000,000 |
Corporate and other | 12,000,000 | (4,000,000) |
Intercompany eliminations | (26,000,000) | 0 |
Other policyholders’ funds | 6,169,000,000 | 6,643,000,000 |
Aflac Japan | 6,169,000,000 | 6,639,000,000 |
Aflac U.S. | 0 | 4,000,000 |
Corporate and other | 0 | 0 |
Intercompany eliminations | 0 | 0 |
Total policy liabilities | 91,599,000,000 | 96,910,000,000 |
Income taxes | 154,000,000 | 698,000,000 |
Payables for return of cash collateral on loaned securities | 1,503,000,000 | 1,809,000,000 |
Notes payable and lease obligations | 7,364,000,000 | 7,442,000,000 |
1.125% senior notes due March 2026 | 398,000,000 | 397,000,000 |
2.875% senior notes due October 2026 | 299,000,000 | 298,000,000 |
3.60% senior notes due April 2030 | 993,000,000 | 992,000,000 |
6.90% senior notes due December 2039 | 221,000,000 | 221,000,000 |
6.45% senior notes due August 2040 | 254,000,000 | 254,000,000 |
4.00% senior noted due October 2046 | 394,000,000 | 394,000,000 |
4.750% senior notes due January 2049 | 542,000,000 | 541,000,000 |
.300% senior notes due September 2025 | 87,000,000 | 93,000,000 |
.932% senior notes due January 2027 | 422,000,000 | 450,000,000 |
1.075% senior notes due September 2029 | 234,000,000 | 250,000,000 |
.500% senior notes due December 2029 | 88,000,000 | 95,000,000 |
.550% senior notes due March 2030 | 93,000,000 | 99,000,000 |
1.159% senior notes due October 2030 | 206,000,000 | 220,000,000 |
.633% senior notes due April 2031 | 211,000,000 | 225,000,000 |
.843% senior notes due December 2031 | 65,000,000 | 70,000,000 |
.750% senior notes due March 2032 | 145,000,000 | 155,000,000 |
1.320% senior notes due December 2032 | 148,000,000 | 158,000,000 |
.844% senior notes due April 2033 | 84,000,000 | 90,000,000 |
1.488% senior notes due October 2033 | 106,000,000 | 114,000,000 |
.934% senior notes due December 2034 | 69,000,000 | 73,000,000 |
.830% senior notes due March 2035 | 74,000,000 | 79,000,000 |
1.039% senior notes due April 2036 | 70,000,000 | 75,000,000 |
1.594% senior notes due September 2037 | 45,000,000 | 49,000,000 |
1.750% senior notes due October 2038 | 62,000,000 | 66,000,000 |
1.122% senior notes due December 2039 | 44,000,000 | 47,000,000 |
1.264% senior notes due April 2041 | 70,000,000 | 75,000,000 |
2.108% subordinated notes due October 2047 | 419,000,000 | 448,000,000 |
.963% subordinated bonds due April 2049 | 211,000,000 | 226,000,000 |
1.560% senior notes due April 2051 | 140,000,000 | 149,000,000 |
2.144% senior notes due September 2052 | 84,000,000 | 90,000,000 |
1.958% subordinated bonds due December 2053 | 210,000,000 | 0 |
Yen-denominated loan variable interest rate due August 2027 | 82,000,000 | 88,000,000 |
Yen-denominated loan variable interest rate due August 2029 | 178,000,000 | 190,000,000 |
Yen-denominated loan variable interest rate due August 2032 | 492,000,000 | 524,000,000 |
Parent Company | 6,819,000,000 | 7,069,000,000 |
Other | 4,119,000,000 | 4,739,000,000 |
Parent Company | 813,000,000 | 1,051,000,000 |
Total liabilities | 104,739,000,000 | 111,598,000,000 |
Variable Interest Entity | 507,000,000 | 390,000,000 |
Parent Company | 7,961,000,000 | 8,411,000,000 |
Shareholders' equity: | ||
Common stock of $.10 par value. In thousands: authorized 1,900,000 shares in 2023 and 2022; issued 1,355,398 shares in 2023 and 1,354,079 shares in 2022 | 136,000,000 | 135,000,000 |
Parent Company | 136,000,000 | 135,000,000 |
Additional paid-in capital | 2,771,000,000 | 2,641,000,000 |
Parent Company | 2,771,000,000 | 2,641,000,000 |
Retained earnings | 47,993,000,000 | 44,367,000,000 |
Parent Company | 47,993,000,000 | 44,367,000,000 |
Accumulated other comprehensive income (loss): | ||
Unrealized foreign currency translation gains (losses) | (4,069,000,000) | (3,564,000,000) |
Parent Company | (4,069,000,000) | (3,564,000,000) |
Unrealized gains (losses) on fixed maturity securities | 1,139,000,000 | (702,000,000) |
Parent Company | 1,139,000,000 | (702,000,000) |
Unrealized gains (losses) on derivatives | (22,000,000) | (27,000,000) |
Parent Company | (22,000,000) | (27,000,000) |
Effect of changes in discount rate assumptions | (2,560,000,000) | (2,100,000,000) |
Parent Company | (2,560,000,000) | (2,100,000,000) |
Pension liability adjustment | 8,000,000 | 36,000,000 |
Parent Company | 8,000,000 | 36,000,000 |
Treasury stock, at average cost | 23,395,000,000 | 20,574,000,000 |
Parent Company | 23,395,000,000 | 20,574,000,000 |
Total shareholders’ equity | 21,985,000,000 | 20,140,000,000 |
Common stock | 136,000,000 | 135,000,000 |
Additional paid-in capital | 2,771,000,000 | 2,641,000,000 |
Retained earnings | 47,993,000,000 | 44,367,000,000 |
Accumulated other comprehensive income (loss) | (5,520,000,000) | (6,429,000,000) |
Treasury Stock, Common | (23,395,000,000) | (20,574,000,000) |
Parent Company | 21,985,000,000 | 20,140,000,000 |
Total liabilities and shareholders’ equity | 126,724,000,000 | 131,738,000,000 |
Parent Company | 29,946,000,000 | 28,551,000,000 |